Budget outcome
What budget outcome occurs when government revenue equals government expenditure?
Balanced budget
What are the two stances we have learned?
Expansionary & Contractionary
Which stabiliser operates without deliberate government action?
Automatic stabiliser
What does ASX stand for?
Australian Securities Exchange.
Which three countries are hosting the 2026 FIFA World Cup?
USA, Canada, and Mexico.
What budget outcome occurs when government expenditure exceeds revenue?
Budget deficit
Name one way the government can make the budget more expansionary.
During a recession, do welfare payments automatically rise or fall?
Rise
Which company recently became the world's most valuable company because of demand for AI chips?
NVIDIA
How many teams will compete in the 2026 FIFA World Cup for the first time?
48
How does the government use a budget surplus?
Reduce government debt by repaying it
Save with the RBA to build up a fighting fund for a rainy day
Add to investment balances in special savings funds
Why might the government adopt a contractionary budget stance?
To slow AD and reduce inflationary pressure.
As unemployment rises, welfare payments increase automatically. What effect does this have on aggregate demand?
It helps support (increase) aggregate demand.
List one strength of using budgetary policy
e.g. target specific areas.
Can influence AS
List 3 types of government expenses
Name two ways the Australian Government can finance a budget deficit.
-31.5b
One discretionary budgetary policy measures announced this year
...tax
...child care
...bulk build
List two weaknesses of using budgetary policy
slow implementation and impact
financial constraints
.....
What is the highest-grossing movie of all time?
Avatar
Tariffs is considered as which form of tax?
Indirect
Underlying cash balance:
2025-26: -28.3b
2026-27: -31.5b
Compare with 2025-26 budget, this year stance is....
More expansionary
How budget initiatives (policies) help to achieve full employment?
By stimulating AD and creating jobs...With higher output levels, some businesses will eventually increase their demand for labour resulting in higher employment levels.
This company, founded by Elon Musk in 2002, completed the largest IPO in history in 2026..
Space X
what is Capital Gains Tax (CGT) discount?
tax concession in Australia that allows individuals and trusts to reduce their capital gain by 50% if they have owned the asset for more than 12 months.